Emami profit jumps 10 percent to Rs 147 crore for Q3

By

Maverick Martins

Published
Jan 30, 2018

India beauty and consumer goods major Emami Limited saw its profit jump 10 percent to Rs 147 crore (approx $23.2 million) in the third quarter ended December, on the back of strong performances by its retail segment and international business.

The company had posted net profit of Rs 134 crore (approx $21.1 million) in October-December period a year-ago.
 
Emami’s sales revenue, however, grew a meagre 4 percent to Rs 762 crore (approx $120 million) as against Rs 734 crore (approx $115.5 million) it reported during the same period in the last fiscal, the company said in a statement.

During the quarter, Emami's international business recorded a growth of 16 per cent led by Commonwealth of Independent States (CIS) and Middle East, North Africa, Afghanistan, and Pakistan (MENAP) regions.
 
Emami Ltd also picked up a 21 percent stake in Helios Lifestyle Pvt Ltd, which owns The Man Company that sells premium grooming products for men. Male grooming has been the best performing product categories for Emami with brands Fair and Handsome and HE Deodorants driving sales growth.
 
Helios is now an associate of the company and expected to further boost sales and increase margins of the firm in the final quarter of the current fiscal. Emami Limited had recorded a turnover of Rs 2533 crore (approx $398.4 million) for the financial year 2016-17.
 
"The company has registered a satisfactory volume growth as we end this quarter. Retail and rural business have bounced back and are growing in healthy double digits though the wholesale channel is still continuing to be under some pressure," Emami Director Mohan Goenka said in a statement.
 
Founded in 1974, Emami Limited is one of the leading personal and healthcare businesses in India, with a portfolio of over 300 products. It currently has operations in more than 60 countries including GCC, Europe, Africa, CIS countries and the SAARC.